Energy Market Snapshot: June 24, 2024
NYMEX NATURAL GAS CALENDAR STRIPS ALL ABOUT THE NYMEX TWELVE-MONTH STRIP 6-10 DAY AND 8-14 DAY OUTLOOK The forecast for late June/early July turned slightly cooler, resulting in a slight price
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NYMEX NATURAL GAS CALENDAR STRIPS ALL ABOUT THE NYMEX TWELVE-MONTH STRIP 6-10 DAY AND 8-14 DAY OUTLOOK The forecast for late June/early July turned slightly cooler, resulting in a slight price
Expected Peak Demand Warning ⚠️ All WeekSituation Overview: As the hot weather continues, the PJM grid forecasts high daily electricity demand. The hot weather conditions are expected to drive demand levels,
6-10 DAY AND 8-14 DAY OUTLOOK The forecasted extreme heat across the U.S. will mean a much higher demand and, consequentially, a lower injection. This will further erode our gas surplus for
⚠️ Monday, Tuesday & Wednesday = Potential Peak Demand Days! Next week, from Monday to Wednesday, the PJM grid forecasts high electricity demand. The hot weather conditions are expected to
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WEATHER: 6-10 DAY AND 8-14 DAY OUTLOOK Forecasts for scorching weather in late June and a severe Heat Dome covering the Southwest sent prices sharply upward last week. Pricing for
NATURAL GAS: EIA:NATURAL GAS STORAGE Last week was the first storage report in over a month with a higher injection than projected. Producers are bringing some assets online to prepare
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6-10 DAY AND 8-14 DAY OUTLOOK Look for cooling demand to increase as a large heat wave moves across the U.S. in the 6-10 and 8-14 day forecasts. The entire country will
NATURAL GAS PRODUCTION Natural Gas had another disappointing injection of only 70 Bcf for the week ending 5/10. Production again came in under 100 Bcf/d, and we have had lower
NATURAL GAS STORAGE NATURAL GAS PRODUCTION Natural Gas production remains weaker than in the past few months, with output below 100 Bcf/d. The number of working dry gas rigs has
PROBLEMS CONTINUE AT THE FREEPORT LNG FACILITY Persistent problems at the Freeport LNG facility have indeed impacted prices. However, there is a silver lining. Despite a freeze in January and
EIA: NATURAL GAS STORAGE A substantial injection of +92 Bcf kept pricing deflated for the near future. Part of that injection came from the almost total shutdown of the Freeport
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NATURAL GAS PRODUCTION The Natural Gas Market remained essentially unchanged. Weakening weather demand and inconsistent LNG demand allowed pricing to stay low, and even production jumped about 2 Bcf/d last
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